Funding arb · Price arb /

BILL

all BILL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0430%/8h= −47.1% APRpaid last 24h −0.002%

Price spread now: Backpack against BingX0.000%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on BingX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BILL-USDT	0.01369	0.0530	pay 0.0265% / 4h	3h 09m	—	$1.7M	—
Short	Backpack BILL_USDC_PERP	0.01369	0.0100	get 0.0013% / 1h	9m 03s	$21K	$1K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against BingX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BingXbpFee BackpackbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$90.28
Price spread: 0.000% → 0.000%: $0
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$110.28
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 8 min ago; Backpack: no order-book sample. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy BingX live order book, 8 min ago	10.86 bp	29.2 bp −$29	92.9 bp −$929	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BILL on 16 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin BILL-USDT	+0.0056%	4h	0.01380	+0.804%	$148K	$19K	20x	as long as short
Aster BILLUSDT	+0.0100%	4h	0.01371	+0.138%	$1K	$4K	5x	as long as short
Bybit BILLUSDT	+0.0100%	4h	0.01368	−0.073%	$1.3M	$1.0M	20x	as long as short
Gate BILL_USDT	+0.0100%	4h	0.01370	+0.073%	$277K	$89K	20x	as long as short
SunX BILL-USDT	+0.0100%	4h	0.01374	+0.365%	$2K	$1.2M	20x	as long as short
HTX BILL-USDT	+0.0100%	4h	0.01371	+0.146%	$11K	$39K	20x	as long as short
Backpack BILL_USDC_PERPshort	+0.0100%	1h	0.01369	0.000%	$21K	$1K	5x
Binance BILLUSDT	+0.0231%	4h	0.01371	+0.146%	$2.5M	$4.0M	20x	as long as short
Extended BILL-USD	+0.0232%	1h	0.01371	+0.118%	$2K	$217K	5x	as long as short
MEXC BILL_USDT	+0.0240%	4h	0.01370	+0.073%	$999K	$362K	50x	as long as short

Show all 16 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BILLUSDT	+0.0298%	4h	0.01370	+0.073%	$647K	$1.2M	20x	as long as short
BingX BILL-USDTlong	+0.0530%	4h	0.01369	long leg	—	$1.7M	—
OKX BILL-USDT-SWAP	+0.0536%	4h	0.01369	0.000%	$1.1M	$2.8M	20x	as long as short
Coinbase International BILL-PERP-INTX	+0.0760%	1h	0.01372	+0.256%	$65K	$72K	50x	as long as short
KuCoin BILLUSDTM	+0.0938%	4h	0.01372	+0.190%	$452K	$335K	20x	as long as short
Deribit BILL_USDC-PERPETUAL	+0.1943%	1h	0.01371	+0.139%	$107K	$12K	10x	as long as short